Robotic Vision Systems Reports Profitable Quarter

CANTON, Mass., Nov. 10 -- Robotic Vision Systems Inc. reported that revenues for its fourth quarter ended September 30, 1999, increased 29 percent from the prior quarter to reach $40,271,000. Operating income for the fourth quarter was $1,278,000, while net income attributable to common stockholders was $94,000. These figures compare with fiscal 1998's fourth-quarter results of $28,402,000 in revenues and a net loss of $22,943,000, or 92 cents per share.
RVSI attributed its return to profitability in the fourth quarter to gains across each of its businesses. Bookings rose to $47.6 million, increasing 30 percent from the third quarter and 136 percent from the same quarter in 1998. According to Pat V. Costa, RVSI's chairman and CEO, the company sees new opportunities in the year ahead. Restoring profitability was just the first step for RVSI. Our challenge now is to demonstrate that we can deliver predictable, improving results across the year. We are focused on revenue, gross margin, and operating margin improvements, said Costa.